Coca-Cola to get into the cannabis business? ‘The space is evolving quickly’

18 September, 2018, 12:21 | Author: Gerard Cortez
  • Cherry Coca Cola are stacked behind a fence in Beijing. Andy Wong  The Associated Press

Coca-Cola says it hasn't made any decisions yet about using it in Coke products.

Landers declined to comment on Aurora.

Coca-Cola did not respond to questions about Aurora or any other Canadian cannabis companies.

The company is interested in cannabidiol oil in particular, one of two primary marijuana molecules. The biggest deal so far is the $4 billion investment by Corona-maker Constellation Brands (STZ) into Ontario-based cannabis company, Canopy Growth Corporation (CGC).

Canada officially legalised the use of recreational cannabis back in June and apparently the United Kingdom could follow suit within five years.

A prospective collaboration between Coke and the Canadian cannabinoid company could save the public's seemingly stalled interest in the century-old soda slinger's more sugary soft drinks, notes Canadian financial channel BNN Bloomberg. "The space is quickly evolving". The investment follows a deal past year in which Constellation acquired a almost 10 per cent stake in Canopy and the two companies agreed to collaborate on the development of cannabis-based drinks.

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The source added, "It's going to be more of the "recovery drink" category".

Bloomberg BNN also reported in June 2018 about Molson Coors exploring an infused-beverage partnership with a number of cannabis companies.

Cannabidiol, a constituent of cannabis, can help ease inflammation, pain and cramping, but has no psychoactive effect.

Cannabis companies from the USA - where marijuana remains illegal at the federal level - have flocked to Canada to raise funds and establish businesses there. Aurora shares were up more than 16 percent on the news at close of trading on Monday and Coke's share price was slightly up as well. Coca-Cola's news arrives alongside other similar companies sharing the same interests.

So, with fizzy drinks are becoming increasingly unpopular (no thanks to our pal, Jamie Oliver), Bloomberg reports that the the global franchise is looking to delve into the cannabis sector.

Several U.S. states have legalized marijuana but it remains against federal law.

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